The cost of sales recognized at the commencement of the lease term by a manufacturer or dealer is equal to

A. carrying amount of the leased asset.
B. carrying amount of the leased asset minus the unguaranteed residual value in absolute amount.
C. carrying amount of the leased asset minus the present value of the unguaranteed residual value.
D. carrying amount of the leased asset minus the present value of the guaranteed residual value.

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